Srigee DLM IPO subscribed 2.88 times so far on day 1; check price band, lot size and key details

According to the data on the BSE website, the IPO received bids for 35,46,000 shares as against 12,30,000 shares on offer until 11:46 am.

The demand was led by non-institutional investors (NIIs) who subscribed their portion 5.01 times. They applied for 16,65,600 shares compared to 3,32,400 shares reserved for them.

Retail investors placed bids for 18,80,400 shares as against 5,72,400 shares reserved. Their category was subscribed 3.29 times.

The issue proceeds will be utilised to setup a manufacturing plant in Uttar Pradesh, acquire machinery, general corporate purposes, and meet issue expenses.

The price band is set at ₹94 to ₹99 per equity share. Investors can apply for a lot, consisting of 1,200 shares worth ₹1,12,800.

Srigee DLM IPO: Subscription, allotment and listing date

The issue's book running lead manager is GYR Capital Advisors, while the registrar is Bigshare Services.

About Srigee DLM

Srigee DLM offers end-to-end plastic manufacturing capabilities, serving original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

The company classifies its business into four segments, namely plastic injection molding & assembly, tool room & die manufacturing, job work-molding, and polymer compounding & trading.

The company serves industries such as consumer durables, automotive components, home appliances, and electronics.